FAQs

How Can Bonds Be Accessed Under the Federal Bonding Program?

• Any organization is now eligible to deliver bonding services under The Federal Bonding Program, but organizations issuing Fidelity Bonds must be “certified” to do so by The Federal Bonding Program.
• Fidelity bonds issued to employers covering at-risk applicants are made available exclusively to The Federal Bonding Program by Chubb which is not duplicated by any other Federal or State program.
• Issued bonds are become effective the day that the applicant is scheduled to start work. The bonds are self-terminating after 6 months with no termination paperwork needed, and the employer does not sign any papers in order to receive the bond free-of-charge.
• Bonds may be issued with values ranging from $5,000 to $25,000 in coverage for a 6-month period with no deductible, providing the employer 100% insurance coverage for covered loss up to the value of the bond. When this bond coverage expires, continued bond coverage can be purchased from Chubb by the employer if the worker demonstrated job honesty under coverage provided by The Federal Bonding Program
• The bond can be issued to the employer as soon as the applicant has a job offer with a date scheduled to start work